Gisele Spawns Baby Boy; Counterfeit Crackdown Hits Canal Street

• Gisele Bundchen has given birth to a baby boy. Husband Tom Brady has a two-year-old son with actress Bridget Moynihan. [People]
• A Chantilly lace LBD worn by Audrey Hepburn in How To Steal A Million sold for $97,000. [AP]

Victoria Beckham Expands Her Reach; Valentino Doc Financed On Credit Cards

• Victoria Beckham opens up to Women's Wear Daily about everything from the childhood bullying she endured to why she couldn't bring herself to tell Marc Jacobs she was starting a fashion line. Clearly, someone wants to be Taken Seriously:

Pretty Woman Makes Money; Sephora Soon To Hit Vending Machines

• Julia Roberts will become a face of Lancôme, appearing in ads beginning early next year. Roberts earns up to $20 million per film, and could realize a similar amount from her first major beauty contract; the company won't say. [WWD]

Michelle's Jewelry, Zac's Lower-Priced Line, & Claudia's Cashmere

• Michelle Trachtenberg is designing a line of jewelry for Coach's Poppy brand. Expect "colorful crystals." [WWD]
• Zac Posen is doing a lower-priced line, Z Spoke, which will be available exclusively through Saks Fifth Avenue come spring. It starts at $78:

Jean-Paul Gaultier Right On Target; Mad Men Women's Wear On Its Way

• Jean-Paul Gaultier is doing a collaboration with Target that will hit stores next spring; stay tuned for pricing information and images as they inevitably leak. Please let there be lingerie-as-outerwear! [WWD]
• Agyness Deyn might star in a short film. [P6]

Kardashians Kall The Shots; Megan Fox Said To Rake In $2 Mill From Armani

Lady Gaga Loves Human Hair; Marc Jacobs Doesn't Mind The Knock-Offs

• Lady Gaga, in a show of uncharacteristic sartorial restraint, wore a chiffon-and-human-hair Holly Russell dress that more or less covered her legs to an awards show. She thanked her publicist. [WWD]

Emma Conjures Clothes, Versace Tweets, Jackass Kickboxes

• "It has been the most incredible gap-year project," says Emma Watson on her new ethical fashion line. What happened to Habitat for Humanity? [WWD]

Karl Thinks Feminists Are "Ugly"; Posh Spice Gives Up On Armani

• For the September issue of Harper's Bazaar, the magazine interviewed Karl Lagerfeld, speaking as Coco Chanel. In character, the Grand Teuton shared such idiotic reflections as: "I was never a feminist because I was never ugly enough for that." [FWD]

Vogue Might Get Makeover; Lily's Chanel Ads Are Out

• Change! Stately old American Vogue is apparently seeking to revamp itself. Says Wayne Sterling, the mag wants "a new circle of models, an influx of fresh, young photographers and a desire for 'unpredictability' in the stories." Unpredictability. In Vogue. [TI]

'90s Supes Are Unstoppable; Christian Audigier Picks On Posh Spice

• 42-year-old Kristen McMenamy, whose deeply unconventional beauty shone in many of the most memorable fashion photographs of the early '90s, was chosen by Steven Meisel for the new cover of Italian Vogue. [FWD]

Michelle Obama Loves Fashion Again; Beckham Brings In New Designers For Denim Line

• Michelle Obama may have skipped the CFDAs, but she'll celebrate the National Design Awards at the White House on July 24. The winners, chosen by the Smithsonian and including Francisco Costa, will participate in events around Washington. [WWD]

Malkovich Does Menswear; Lagerfeld's Ballet Costume Gets Booed

• John Malkovich has a clothing line. Who knew? His collection, branded Technobohemian, is actually the actor's second foray into fashion, he launched a line called Uncle Kimono in 2002. We hope his Milan show models all wear Malkovich masks. [WWD]

Michelle Obama To Receive Fashion Award; Salma To Do Skincare

• Michelle Obama will receive a CFDA award — but CFDA president Steve Kolb isn't certain she'll attend. "We'll do whatever we can to get her here, but the award isn't about getting her to come." [AP]

Slumdog Star Freida Pinto Makes Cover Of Indian Vogue

• Freida Pinto looks fantastic on the March cover of Vogue India. [ONTD]

Oh, God: Pixie Geldof Gets Cover Of Italian Vogue

• It's too early for this heartbreak. Pixie (Pixie!) Geldof got the March Italian Vogue cover. Have Franca Sozzani and Steven Meisel lost their minds? The cover line is "So young, so cool." So barf. [Telegraph]

Dolce & Gabanna's Domenico & Stefano Are Devout Designers

• Sometimes the morning brings good news: Domenico Dolce and Stefano Gabbana are going to play Italian priests in the movie version of Nine, which was inspired by Fellini's 8 1/2. Priests! [Elle UK]

First, Lady GaGa Came For Your Pants, And You Said Nothing

• Women, gird your loins: Lady GaGa wants you to share her personal, pants-optional, control-top-hose-and-neon-and-sunglasses-at-night style of dress. Because in the future, everyone will have a clothing line. [Sassybella]

Ritchie & Rachel Are Frenemies Once More; Marc Jacobs Breaks Hearts

• Rachel Zoe and Nicole Ritchie hugged while cameras for Zoe's reality show rolled. Presumably they made up based on their shared love of airtime and handbags the size and price of compact cars. [WWD]

Ms. Obama: Oh, This Old Thing?

• Michelle Obama wore Tracy Feith yesterday. She has yet to warn any designer what she's wearing — which is kind of awesomely normal. It must be the best surprise one could get. [WWD]